Unless there are barriers to prevent free international trade, a country becomes an importer when the world price exceeds the domestic price. In contrast, a country becomes an exporter when the world price is less than the domestic price

Internal and external economies positively contributed to U.S. industrialization

Indicate whether the statement is true or false

Your neighbor has just planted some fragrant flowers. The wonderful scent drifts into your room and makes you happy

A) This scent is an internal cost to you. B) This cannot be an externality since you are enjoying the scent. C) This is an externality since you get a benefit from your neighbor's flowers. D) The social cost of this activity is entirely borne by you neighbor.